HM Revenue & Customs, on June 30, published draft regulations that simplify the determination of the market value of shares in listed companies and similar instruments for tax purposes. The draft responds to recommendations made by the Office of Tax Simplification, replacing complicated valuation methods such as the “quarter up” method with methods that require no calculation, such as, in the case of shares, the closing price of the shares on the relevant day. Comments on the draft are requested by August 22. Draft statutory instrument (PDF 103K), Draft explanatory memorandum (PDF 103K), Release.
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